| Item |
Amount |
Detail |
| Total deal | $63B | Special-purpose vehicle buys chips, leases to Anthropic |
| Senior loan | ~$45B | Bank of America, Citi, Morgan Stanley; Broadcom guarantees >$42B |
| Subordinated loan | $18B | Blackstone buys $9B at yield >10% |
| KBRA rating | BB+ (positive) | One notch below investment grade |
| Morningstar DBRS | BB | Junk |
| Blackstone's Oct 30 reversal | Told investors: expect double-B post-IPO | Reversed earlier "investment-grade by 2027" guidance |
| Impact | Cuts off $12.1T corporate bond market | Insurers, pension funds restricted from junk |
| Anthropic's $15B revolver | Releases collateral only after 2 of 3 agencies give investment grade | S-1 language |